The first part of the course demonstrated how advanced capitalist countries such as Britain. The United States, Germany, and Japan had widely divergent development trajectories as well as different modes of conducting economic policy. Referencing both lecture and the readings, elaborate on and explain these differences in development and subsequent economic policy-making. What accounts for these differences? Touch on two of the four national economies listed above in your answer to help illustrate these differences.

In the second half of your essay, consider these diverse national economies in the context of the current global economy. Did lectures and the readings imply that national differences will disappear? Does the evidence show that they have started to converge due to the pressures of the global economy (globalization, increases in capital flows, etc.) and international organizations (GATT/WTO, World Bank, IMF, regional trade agreements like NAFTA and the EU, etc.)? Or will we continue to see differences in national economic structures and in the behavior of key economic actors like multinational corporations? Use both lectures and reading to back up your position on this contentious issue.